STACY OAKSHEAF | City News | CONTACT
THIS ONE’S ON THE BUSINESS CARD: In a stunning display of financial audacity, Jenny Smith a local sole trader and small business owner claims she’s some expert on the Australian tax system, despite having no fucking idea how a tax deduction actually works.
Last Sunday, Smith confidently declared, “It’s a tax deductible,” when it came her turn to use the card machine after enjoying a casual lunch with the girls.
But it’s not just lunches, Smith’s small scale tax evasion extends to everything from designer handbags, “It’s a work bag for carrying my laptop” to her house cleaning, “I WFH, so it’s a home office expense”.
Jenny has even gone so far as to declare her streaming subscriptions as valid deductions for “product development and research.” Bold claim!
Come tax time, Smith’s accountants, who conveniently happen to be her parents are left having to sort through item after item of unreconciled claims in Jenny’s Xero. Lucky for Jenny, the accountants have a non-contractual obligation to put up with Jenny’s piss poor financial situation in order to keep in the good ‘books’ with her parents.
When confronted with the hard truth that a tax deduction is based on actual income-related expenses, Jenny chooses to look the other way, as she can always claim that this revelation is open to interpretation.
Who needs financial literacy anyway? Only tax time will tell!
